Annual report pursuant to Section 13 and 15(d)

Intangible assets other than goodwill

v3.6.0.2
Intangible assets other than goodwill
 12 Months Ended
Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible assets other than goodwill
Intangible assets other than goodwill
The Company capitalized $30,035 and $39,272 of product certification costs during the years ended December 31, 2016 and 2015, respectively. Also included in intangible assets are the costs incurred by the Company to acquire certain patents. These patents, once in service, will be amortized on a straight-line basis over the estimated economic life of the associated product, which range from approximately 7-10 years. The Company capitalized $77,240 and $88,985 of patent-related costs during the years ended December 31, 2016 and 2015, respectively. The Company capitalized $12,390 and $4,775 in trademarks during the years ended December 31, 2016 and 2015, respectively.
Intangible assets at December 31, 2016 and 2015 consist of the following:
 
Product
Certifications
 
Patents
 
Developed Technology
 
Trademarks
 
Total
Balance at December 31, 2016
 

 
 

 
 
 
 
 
 

Intangible assets
$
544,651

 
$
681,155

 
$
240,000

 
$
17,165

 
$
1,482,971

Less - accumulated amortization
(233,992
)
 
(123,012
)
 
(60,000
)
 
—

 
(417,004
)
 
$
310,659

 
$
558,143

 
$
180,000

 
$
17,165

 
$
1,065,967

 
 
 
 
 
 
 
 
 
 
Balance at December 31, 2015


 


 
 
 
 
 
 

Intangible assets
$
514,616

 
$
603,915

 
240,000

 
4,775

 
$
1,363,306

Less - accumulated amortization
(182,931
)
 
(91,764
)
 
(44,000
)
 
—

 
(318,695
)
 
$
331,685

 
$
512,151

 
$
196,000

 
$
4,775

 
$
1,044,611


Amortization expense was $98,310 and $99,721 during the years ended December 31, 2016 and 2015, respectively. Estimated amortization expense at December 31, 2016 for each of the five succeeding years and thereafter are as follows:
2017
$
167,316

2018
161,118

2019
142,725

2020
131,367

2021
119,987

Thereafter
343,454

 
$
1,065,967